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VISUALIZADOR DE COOPERATIVAS DE ahorro y crédito de PUERTO RICO

¿Qué es el visualizador de Cooperativas de Ahorro y Crédito?

Una herramienta de gestión que permite evaluar las condiciones prevalecientes en el mercado desde la perspectiva del desempeño de indicadores económicos claves que inciden en la industria de las cooperativas, así como su desempeño financiero y la huella geográfica con indicadores socioeconómicos del mercado que atienden las cooperativas que componen el sistema.

 

En este dashboard se presentan una serie de indicadores importantes para la industria de Ahorro y Crédito de Puerto Rico. Específicamente, se han procesado todos los informes trimestrales de COSSEC, con sus indicadores financieros. 

ECONOMIC INDICATOR DASHBOARD

Actualizado: Mayo de 2023

 

 

 Las ventas al detal se situaron en $3,168 millones durante noviembre de 2022, reflejando un aumento anual de 2.5%. Sin embargo, las ventas acumuladas entre enero-noviembre incrementaron en 0.8% anual.

 

 Durante diciembre 2022 se reportaron 340 quiebras, representando un incremento de 14.9% anual. En comparación con el mes anterior las mismas incrementaron en 11.1%. 


En marzo del 2023, el empleo asalariado no agrícola ajustado estacionalmente fue de 943,700, reflejando un aumento de 25,300 empleos con relación al mismo periodo el año pasado.     


La ganancia en el empleo asalariado se concentró principalmente en los sectores de:  recreación y alojamiento (+7,500), servicios educativos y de salud (+4,300), servicios profesionales y comerciales (+2,900) y construcción (+2,800).  

 

La tasa de desempleo no ajustada estacionalmente fue 5.8% en marzo, manteniéndose estable con relación al mes anterior y con el mismo periodo el año anterior.  

 

La inflación (i.e., medida como el crecimiento anual en el índice de precios al consumidor) se situó en 5.1% en marzo. La variación secuencial continúa reflejando una desaceleración en el ritmo de crecimiento en los precios, aunque todavía se mantienen elevados en los renglones de alimentos y algunos segmentos de servicios.   


Las bancarrotas radicadas en marzo alcanzaron 389, en el mes anterior hubo 319 quiebras.  


Las ventas de cemento alcanzaron 1.5 millones de sacos en febrero, reflejando una disminución de 0.6% anual en comparación a las ventas generadas en febrero de 2022.  

 

 En marzo 2023 se vendieron 10,732 automóviles. Aunque secuencialmente hubo un incremento de 1,423 unidades, se tiene que todavía las ventas se mantienen por debajo de las 11,186 unidades vendidas en febrero de 2022.

 

 

FINANCIAL STABILITY INDEX FOR BANKS IN PUERTO RICO:

THIRD Quarter 2021

Leslie Adames, Director of Economic Analysis and Policy

The index measures the financial health of the industry in reference to four criteria: liquidity (i.e., total loans / deposits or LtD), solvency (i.e., capital to total assets or E / A), asset quality (i.e., nonperforming loans or NPL / Total Loans) and profitability (i.e., return on assets or ROA). The index fluctuates between [0,1], with values approaching zero (0) indicating financial fragility and values close to one (1) strength.


According to the latest figure, the index continued improving as of the third quarter of 2021. The index increased from 0.47 in the third quarter of 2020 to 0.60 in the third quarter of 2021. Quarter-over-quarter, the index rose 30 basis points from 0.57 in the second quarter of 2021.

 

The strengthening in the industry liquidity influenced the positive performance of the index in the third quarter of 2021. The loan-to-deposit ratio improved from 46.0% in the second quarter of 2021 to 45.0% in the third quarter of 2021. Total deposits rose 1.5% or by $1,293 million quarter-over-quarter to $85,855 million during this period, while loans and leases dropped 3.9% or by $291 million. In terms of the industry’s loan portfolio, it is essential to underscore that in terms of main variations, the real estate and commercial segment declined $514 million to $25,700 million in the third quarter, partially offset by an increase of $223 million to $9,817 million in the individual loan portfolio.

 

The industry’s profitability remained stable, with a ROA of 1.38% in the third quarter of 2021. Net income increased $318 million quarter-over-quarter to $923 million in the third quarter. Three factors contributed to this performance. One of the contributors was the release of $53.9 million in provisions for loans and lease losses (i.e., $164.1 million in cumulative provisions for the first nine months of the year). On the other hand, the industry exhibited a sequential increase of $605.6 million to $1,825 million in revenues from interest and fees on loans and $107.7 million to $314 million on investment interest income between the second and third quarter of 2021. Finally, non-interest income increased by $195.6 million to $556.7 million in the third quarter of 2021, influenced by key items such as deposit service charges, fiduciary activities, net servicing fees.

 

Meanwhile, the industry credit risk profile remained stable with the nonperforming loans to total loans and leases ratio (i.e., NPL) trending lower to previous quarters. The NPL ratio declined from 6.57% in the 3Q20 to 4.83% in the second quarter of 2021 and 4.32% in the 3Q21. FDIC data on nonperforming loans and delinquencies for individual loan portfolio segments do not show a material deterioration in asset quality yet.

 

Finally, although the equity capital to total assets declined year-over-year from 9.05% in the third quarter of 2020 to 7.77% in the third quarter of 2021, it remained stable compared to 7.70% in the previous quarter. As for the regulatory risk-based capital ratios, the industry’s average common equity to tier 1 ratio rose sequentially from 15.65% in the second quarter of 2021 to 16.22% in the third quarter of 2021, remaining well above the 6.5% minimum regulatory requirement to be considered well-capitalized.

 

Financial Stability Index for the Credit Union Industry
in Puerto Rico: FIRST QUARTER 2021
 Leslie Adames, Director of Economic Analysis and Policy 

The index measures the financial health of the industry in reference to four criteria: liquidity (i.e., total loans / deposits or LtD), solvency (i.e., capital to total assets or E / A), asset quality (i.e., nonperforming loans or NPL / Total Loans) and profitability (i.e., return on assets or ROA). The index fluctuates between [0,1], with values ​​approaching zero (0) indicating financial fragility and values ​​close to one (1) strength.

 

The index declined slightly from 0.66 in the fourth quarter of 2020 to 0.64 in the first quarter of 2021. The index’s quarterly (i.e., QoQ) performance was driven by a reduction in the profitability and the solvency subindexes. The industry’s profitability remains under pressure as persistent low interest rate continues affecting the yield on loans and net interest margin (NIM). The industry’s NIM dropped from 3.78% in the fourth quarter of 2020 to 3.74% in the first quarter of 2021 reflecting a reduction in loans yields from 7.33% to 7.28% despite a lower cost of funds which declined from 0.57% to 0.49% during the period. On the expense side, the industry’s provisions relative to its total loan portfolio which declined from 2.53% in the second quarter of 2020 to 2.42% in the fourth quarter of 2020, increased slightly to 2.47% in the first quarter of 2021.

 

The moderate reduction in the equity-to-total assets ratio was influenced by various factors. The industry’s total capital (i.e., excluding credit unions’ member stocks) declined from $532 million in the fourth quarter of 2020 to $524 million in the first quarter of 2021 influenced by a quarterly deduction of $21 million related to the reserve valuation of investment, partially offset by increases of $7 million in additional reserves and of $2 million in capital obligations. Meanwhile, the quarterly increase in the industry’s total assets was driven by incremental variations of $40.1 million in cash, $76 million in loan balances, $86 million in saving and CD’s accounts held with other institutions, and $133 million in investments and negotiable securities.

 

The number of credit union membership increased by 9,529 to 1.085 million members in the first quarter of 2021 when compared to the previous quarter.